Termination of a SEZ permit on grounds of the Act amending the SEZ Act

Abstract

The purpose of this paper is to compare the current regulations concerning the termination of a SEZ permit, i. e. the regulation introduced by the Act amending the SEZ Act to the prior binding regulations in this respect. The analysis provides an opportunity to determine which regulation better fulfill the SEZ's objectives and are more beneficial from the entrepreneurs’ point of view. The article points out that the regulations, which were previously in force, had introduced considerable uncertainty and provided the minister of economy too much administrative discretion. The changes introduced to the SEZ Act have considerably reduced this uncertainty.